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Hector
Hector, 56, lives in Soledad and has a shoe-making business. He used to work for a company that produced and sold shoes, but he retired from this position in 1985 so that he could start up his own venture. He bought shoe lasts (molds) and a motor, with which he began making sandals that he would sell to his relatives and friends. Very soon people began to take note of the quality of his products. He would display each design in his own home, and he started to sell by the dozens to customers who had their own clientele, and so in this way he has continued to work. His dream is to have more growth in his workshop, so that he could hire workers and generate jobs. In addition, he would like to have his own place where he could exclusively display his shoes. However, his main challenge is that he lacks the working capital he needs to achieve his dreams and be able to respond to his rapidly growing customer base. At this time, he is applying for a Kiva loan, and this will be the first time that he has had financing through the Fundación Mario Santo Domingo. With this loan, he will buy glue, leather, heels, platforms and plastic, and he will also make some repairs to his shoe stitching machine. He expects that this investment will be successful for two reasons. First, with the loan he will have more working capital and so will be able to buy in cash and in greater volume, so that he will be able to get discounts. Second, he brings a lot of technical experience to the project, acquired when he was an employee of a company that makes one of the best quality brands of shoes in Colombia.
View original language description ↓
Hector de 56 años de edad vive en Soledad y se dedica a la fabricación de calzado desde que trabajó para una empresa productora y comercializadora y se retiró en el año 1985 para iniciar su aventura emprendedora comprando hormas y un motor con el cual se dedico a producir sandalias que vendía entre familiares y amigos. Muy pronto la calidad se su producto se hizo notoria al exhibir cada diseño en su propia casa y empezó a vender por docenas a clientes que tenían su propia clientela y así ha continuado trabajando. Su sueño es tener mayor crecimiento en su taller, para contratar personal y generar empleos y así mismo tener un punto de exhibición exclusivo, pero su gran desafío es la falta de capital de trabajo para lograr su sueño y poder responder mucho mas a su creciente clientela. En la actualidad está aplicando a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, con el cual comprará pegante, cuero, tacones, plataformas y plásticos y adicionalmente reparará su máquina guarnecedora. El éxito de esta inversión radica, en que tendrá un nuevo capital de trabajo para compras de contado y en mayor volumen, con el que ganará descuentos y también su experiencia técnica, adquirida cuando fue empleado de uno de las marcas de mayor calidad de calzado en Colombia.

Additional Information

About Fundación Mario Santo Domingo

Fundación Mario Santo Domingo (FMSD) is a non-profit organization in northern Colombia dedicated to developing programs for the country’s poorest communities. In addition to numerous social services, FMSD runs a microfinance program to strengthen micro-businesses in the areas where it works. The organization also offers several non-financial components as part of this program, including training to help entrepreneurs start their own businesses.

About Colombia

  • $6,070
    Average annual income
  • 201
    View loans »
    Colombia Loans Fundraising
  • $12,876,400
    Funds lent in using Kiva
  • 1,760.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Hector to buy glue, leather, heels, platforms and plastic, and he will also make some repairs to his shoe stitching machine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 9, 2012
Listed
Mar 18, 2012
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2013